Solvency II came into force throughout Europe on 1 January 2016. With the aim of ensuring that the Solvency II regulation does not apply to certain Danish insurance undertakings and multi-employer occupational pension funds, undertakings were divided into group 1 and group 2 insurance undertakings in section 5(1), nos. 24 and 25, of the Danish Financial Business Act. Group 1 insurance undertakings are insurance undertakings that are covered by the Solvency II regulation due to their size and complexity, whereas group 2 insurance undertakings are typically smaller and less complex, and are not covered by the Solvency II regulation. See which insurance undertakings are group 1 insurance undertakings here.
Article 31(2) of the Solvency II Directive (Directive 2009/138/EC) introduced a requirement for the national supervisory authorities to disclose specific information. In addition to this, in December 2015 the European Commission adopted standards for the structure and format of the information to be disclosed (Commission Implementing Regulation (EU) 2015/2451 of 2 December 2015). The purpose of the stricter requirements regarding disclosure of information by supervisory authorities is to ensure that information about the supervisory and regulatory practice in a Member State is easily accessible to undertakings that are subject to supervision and other interested parties. Uniform disclosure within the European Union also means it is possible to compare different Member States, thus furthering the consistency of supervision throughout the EU.
This page on transparency and accountability includes a detailed overview of supervisory and regulatory practice for group 1 insurance undertakings in Denmark. As the competent national supervisory authority for Danish insurance undertakings, the Danish FSA fulfils its disclosure obligations on the following linked pages:
The information is updated regularly and at least once a year.